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in Vancouver: Cambie Multi-Family Commercial for sale (Vancouver West) : MLS(r) # C8007002

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Main Photo:  in Vancouver: Cambie Multi-Family Commercial for sale (Vancouver West)  : MLS(r) # C8007002
$4,880,000
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8007002
Status:
Active
Build. Type:
Low Rise (2-4 stories)
UNIQUE opportunity to own 50% interest in prime Cambie corridor area (RM-3A zoning). The property spans one block between Cambie and Tupper Street along West 22nd Avenue with over 13,000 sq. ft. of site area. This 3 storey low-rise rental apartment building has a great mix of studio/1 bedroom/ 2 bedroom units comprising a total of 22 units. Ten surface parking stalls and ten private garages. These units are currently rented well below market. Ideal situation to renovate which would result in significantly higher rents with a greater economic return. Canada Line station 3 blocks south with bus service virtually at the doorstep.
Sale Type:
Asset
Property Type:
Multi-Family Commercial
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories)
# Units:
22
# Storeys:
3.0
Year built:
1945 (Age: 72)
Total Floor Area:
Switch units of measure20,000 sq. ft.
Land Use/Zoning:
RM-3A
Taxes:
$16,827.96 / 2016
HVAC:
Hot Water, Radiant
Env Assmt Phase:
None
Cap Rate %:
2.25
Other Income:
$0
Effective Gross Income:
$282,581
Gross Income:
$270,588
Oper. Expenses:
$106,348
Net Operating Income:
$175,815
Listed Date:
Jun 30, 2016
Listing information last updated on 20-Mar-2017 5:05 PM
Marilou Appleby